anyone got any ideas about the block trades that went through today?

website: http://www.sterlingenergyplc.com/



weather: www.nhc.noaa.gov/refresh/graphics_at4+shtml/084938.shtml?50wind120

SWW

is the 23% not diluted to 15% upon placing?

SWW,

Sorry it's 14.7% post float.

SWW - SEY's 23% has been diluted by the recent 11m fund-raising for 36% of the enlarged capital to 15%. Harry Wilson and the FD sit on the board. Dealing has opened with a small premium at 118p compared to 112p placing price.

sd

Sorry didn't keep up there, I would not know the answer unless I looked it up, so thanks sd.

From citywire

Edmond Jackson Comments

"Sterling, representing 9.6% of JOT, is expected to benefit from an astute financing deal with the Mauritanian government where Sterling gets an 8% stake in the Chinguetti oilfield � scheduled for first oil in the first quarter of 2006 and planned to rapidly achieve peak production of 75,000 barrels per day. Sterling�s E&P portfolio has other promising projects such as the Gulf of Mexico where success in gas should boost cash flow, also Madagascar and the Cameroons."

Any one heard any more on this or any thoughts:

http://www.alertnet.org/thenews/newsdesk/L03431118.htm

http://news.bbc.co.uk/1/hi/world/africa/4741243.stm

Hate to scaremonger but Sky has given a very brief report on a military coup in Mauritania. This was accompanied by a map pointing out Mauritius, so some confusion as to reality.

Hi guys

have sold mine for now - will look to buy in when the situation in Mauritania is resolved (have too much exposure with this and DNX )

fundementalist,

Well whoever runs the country, I think they will still want the oil revenues, and US are unlikely to allow western contracts to be annulled, or radicl muslims to take over a friendly country.

I'm out too.

That's 2 attempts at Coup D'etat in 12 months.

Sterling have an agreement with a Government that is being turned over right now so who knows where it will go once the dust settles.

This may have a great upside but I feel more comfortable watching for a while.

Good luck to any left in.

I should add that I take note of what has happened in Iraq, it may take time to sort out existing contracts post the Coup if it is sucessful.

That's time can not give at the moment.

SWW,

I'm still here and watching SKY for news, but I feel sure whoever is in charge will want the oil revenue.

Not sold any yet, sells are still mostly PI size.

Interesting reaction across the shares to the news by 3 companies with exposure to Mauritania:

HNR -9%
SEY -6%
DNX +3%

Can understand the two shares dropping (even if only a short term reaction), cant understand why DNX is going up - anyone got any ideas?

Same with PMO, it really needs shorting but I dont do that sort of thing usually.

Heard on the news that Elf Aquitane already produce in Mauritania, so the French will be watching the situation closely I would imagine, particularly as it's a former colony.

I am still holding.

later 18.7p trades are BUYS, not sells!

HNR down 10%, although just ticked up a tad, so hopefully the slaughter is over.

Now we need some clarifcation of the situation in Mauritania.

Some buying now, and the recent sells have been quite small, so maybe the weak holders have been shaken out?

BBC website has no update on the situation yet, Ould Taya's plane has apparently landed in Niger upon it's return from Saudi Arabia, which may simply be a precaution, or maybe an indication that his tenure is in doubt.

Army council 'ruling Mauritania'

Ould Taya was out of the country at the time of the reported coup
Mauritanian army officers have announced the overthrow of the president and creation of a ruling military council.
The military council said it had ended the "totalitarian regime" of President Maaouiya Ould Sid Ahmed Taya.

Troops have seized control of state media and main routes in Mauritania's capital, Nouakchott.

Presidential guards earlier blocked off access to the presidential palace and gunfire was heard.

The new Military Council for Justice and Democracy said it would rule the West African state for two years.

A plane carrying President Taya has landed in Niger's capital, Niamey, on his return from attending the funeral of Saudi Arabia's King Fahd, officials say.

Troops on streets

Presidential guards moved into state radio and television buildings from 0500 GMT, AFP news agency reports.

MAURITANIA

Dominated by light-skinned Arabic-speakers (Moors)
Black Africans complain of discrimination
Mostly desert
Islamic Republic
Recognises Israel

State media broadcasts were cut and the airport closed.

An AFP journalist in the city said military vehicles equipped with heavy weaponry and anti-aircraft guns were deployed.

Soldiers have taken up position on the streets and are said to have taken control of a key army building.

Unconfirmed reports say a number of senior army officials have been arrested.

Gunfire rang out briefly near the presidency building.

"I saw scared people running away. Civil servants have all left their offices," a witness told Reuters news agency.

A BBC correspondent in the city says he has not heard of any violence since the gunshots.

The capital is calm and people are going about their business normally, Sidi El Moctar Cheiguer says.

Divided state

Rebel soldiers came close to toppling Mr Taya in June 2003.

The government says it foiled two more attempts in 2004.

President Taya took power in a bloodless coup in December 1984 and has been re-elected three times since.

Correspondents say he later made enemies among Islamists in the country, which is an Islamic Republic.

Critics accuse the government of using the US-led war on terror to crackdown on Islamic opponents.

Mr Taya has also prompted widespread opposition by establishing links with Israel.

Earlier this year, nearly 200 people, including former President Mohamed Khouna Ould Haidallah, were put on trial for a series of alleged coup plots.

Mauritania is deeply divided between three main groups - light-skinned Arabic-speakers, descendents of slaves and dark-skinned speakers of West African languages.

"A group of Mauritanian army officers announced the overthrow of the president on Wednesday....."


http://www.lasvegassun.com/sunbin/stories/w-af/2005/aug/03/080305699.html

So, any doubt as to whether it is a coup or an attempt may well be over.

No doubt things will return to normal, but not today.

If this holds, then Mauritania has a new Government.

im out of mine short term negative sentiment around stock annoyingly only has one direction- will watch with interest. bad timing as we were at important levels.